for brilliant answer

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THE IMPACT OF GLOBALIZATION ON INEQUALITY

Topic with Connections

Globalization is a phenomenon that can be traced back to the 15th century and attributed to the interconnectedness of diverse businesses and people across the globe. As much as globalization is praised for its positive impacts, it also has fueled undesirable effects. In Latin America, studies have shown that globalization has contributed to income inequality due to specialization. Globalization has encouraged countries to focus on industries that they can perform best, and invest in them. This way, there will exist a high demand for the highly skilled, with a ripple effect of low demand for skilled workers. Consequently, this leads to the highly skilled getting high income, with poor skilled having very income. Such that there exists a significant and abnormal disparity of income between these two groups of people.

Research Questions

1) Why does globalization push for specialization, which is attributed for inequalities witnessed?

2) How exactly does specialization create income inequality?

Historical Roots

Globalization has been in existence for more than a century now. To understand its roots, one has to carry out a historical analysis that goes beyond the physical details. Therefore this paper will carry out a research that dates back to 150 years ago. This will provide details on the issue and landscape of globalization.

Search Strategies

My search strategy was more specific and personalized. For the assignment, I had an overview of the content that I would need to include. I had broken down the whole paper into bits that would need a unique approach to answer.

For instance, on the two primary sources, I aimed to understand the concept of globalization and inequality, and narrow this down to a region. Therefore;

i) The first source – Introduce globalization and inequality with regards to income inequality.

ii) The second source – introduce a region that has and is still experiencing this inequality.

This was so throughout the paper.

I would type general topic phrases on Google search with a specification of whether I wanted a journal, a book or a news article. The databases that aided this assignment were google scholar for journals, google books for boos, and general search results for articles.

Sources with Annotations

Source Demonstrating that Globalization Affecting Inequality is a Current Issue

Berger, Nahuel. 2014. "Theorist Eric Maskin: Globalization Is Increasing Inequality". World Bank. https://www.worldbank.org/en/news/feature/2014/06/23/theorist-eric-maskin-globalization-is-increasing-inequality.

This source from World Bank News gives a very simple explanation as given by Nobel Laureate Eric Maskin of how globalization causes inequality with regards to specialization, labor, and demand[footnoteRef:1]. [1: Berger, Nahuel. 2014. "Theorist Eric Maskin: Globalization Is Increasing Inequality". World Bank. https://www.worldbank.org/en/news/feature/2014/06/23/theorist-eric-maskin-globalization-is-increasing-inequality. ]

Murakami, Yoshimichi. 2018. "A Review Of Theoretical Developments And Recent Evidence". Globalization And Income Inequality In Latin America. Nada: Kobe University. https://pdfs.semanticscholar.org/d578/3bc58d73345ca027a9e00e66edf0d6c6efcf.pdf.

This article, from a report series of Globalization and Income Inequality In Latin America, gives a peek into how globalization has effected income inequality in the Latin America Region[footnoteRef:2]. [2: Murakami, Yoshimichi. 2018. "A Review Of Theoretical Developments And Recent Evidence". Globalization and Income Inequality in Latin America. Nada: Kobe University. https://pdfs.semanticscholar.org/d578/3bc58d73345ca027a9e00e66edf0d6c6efcf.pdf. ]

Two Journal Articles Addressing the Historical Roots of the Topic

Williamson, Jeffery G. 1997. "Globalization and Inequality, Past and Present". The World Bank Research Observer 12 (2): 117 - 135. http://scholar.google.com/scholar_url?url=http://weber.ucsd.edu/~jlbroz/Courses/Lund/syllabus/williamson_past.pdf&hl=en&sa=X&scisig=AAGBfm0TW0ngoM6Z-PSD5FenRMAaOm0mSA&nossl=1&oi=scholarr

The title of this journal article, was an indicator of its relevance in providing historical roots of the topic, Globalization and Inequality[footnoteRef:3]. [3: Williamson, Jeffery G. 1997. "Globalization and Inequality, Past and Present". The World Bank Research Observer 12 (2): 117 - 135. http://scholar.google.com/scholar_url?url=http://weber.ucsd.edu/~jlbroz/Courses/Lund/syllabus/williamson_past.pdf&hl=en&sa=X&scisig=AAGBfm0TW0ngoM6Z-PSD5FenRMAaOm0mSA&nossl=1&oi=scholarr ]

O'Rourke, Kevin H. 2001. "Globalization and Inequality: Historical Trends". Globalization 8339 (7): 1 - 40. https://www.nber.org/papers/w8339.pdf.

This journal article documents the trends of globalization and inequality over the past 150 years, therefore resourceful in giving the historical landscape of inequality rooted in globalization[footnoteRef:4]. [4: O'Rourke, Kevin H. 2001. "Globalization and Inequality: Historical Trends". Globalization 8339 (7): 1 - 40. https://www.nber.org/papers/w8339.pdf. ]

Two Books giving details on Globalization and Inequality

Agenor, Pierre Richard. 2002. Does Globalization Hurt The Poor?. Washington: World Bank.

This book gives a view on how globalization affects the poor in a country, with regards to income and life standards dating 18 years ago[footnoteRef:5]. [5: Agenor, Pierre Richard. 2002. Does Globalization Hurt The Poor?. Washington: World Bank. ]

Bourguignon, Francois. 2017. The Globalization of Inequality. Paris: Princeton University Press.

This book provides very important details on the issue of globalization, particularly giving a implication that there is a globalization the endorses inequality[footnoteRef:6]. [6: Bourguignon, Francois. 2017. The Globalization of Inequality. Paris: Princeton University Press.]

Bibliography

Azzimonti, Marina, Eva De Francisco, and Vincenzo Quadrini. “Financial Globalization, Inequality, and the Rising Public Debt.” American Economic Review 104, no. 8 (2014): 2267-2302.

Frankel, Jeffrey. “Do Globalization and World Trade Fuel Inequality?” The Guardian. 2018. https://www.theguardian.com/business/2018/jan/02/do-globalisation-and-world-trade-fuel-inequality

Nissanke, Machiko, and Erik Thorbecke. “Channels and Policy Debate in the Globalization-Inequality-Poverty Nexus." In The Impact of Globalization on the World’s Poor. London: Palgrave Macmillan, 2007.